Codexis Q1 revenue up 32%, net loss narrows to $11.5M; reiterates FY guidance

CODEXIS, INC.

2024-Q1 EPS reported -$0.16 revenue$17,073,000

Total revenue $17.1M (+32% YoY); product revenue $9.6M (+14%); net loss $11.5M vs $22.6M loss in Q1 2023.
Received first large pharma order for dsRNA ligase (low-to-mid single digit million) and entered $40M loan facility with Innovatus.
Reiterated FY 2024 guidance: product rev $38-42M, R&D rev $18-22M, product gross margin 58-63%.
Cash and investments $85.5M; expects to fund operations through positive cash flow by end of 2026.
Exclusive license with Roche for dsDNA ligase; sold HCU and MSUD compounds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CODEXIS, INC. reported the first quarter ended March 31, 2024 results: revenue $17.1 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $17.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

in the second half of 2025, ahead of an anticipated full commercial launch of the platform in 2026. First Quarter 2024 Financial Highlights • Total revenues increased by 32% to $17.1 million for first quarter 2024 compared to $13.0 million in first quarter 2023. • Product revenues increased by 14% to $9.6 million for first quarter 2024 compared to $8.4 million in

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Source: SEC EDGAR

accession 0001200375-24-000013

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